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AD Ports Group, which is backed by the UAE sovereign wealth fund ADQ, said its subsidiary, Noatum has launched operations in Türkiye as it looks to leverage bilateral trade opportunities.
Noatum, a port and liner agency, will offer services tailored to meet the needs of various clients, including ship owners, ship operators, charterers, and ship managers.
Noatum will build on its extensive local and regional presence and expertise given its existing Noatum Logistics - East Europe, Türkiye & CIS office, which is also based in Istanbul.
The expansion comes as the UAE and Türkiye strengthened trade ties with the signing of the Comprehensive Economic Partnership Agreement (CEPA), in September of 2023. Among other measures, the agreement aims to promote bilateral trade and investment by removing or reducing tariffs and trade barriers, establishing a free trade area, and providing an enhanced market access for UAE’s companies and service providers.
AD Port' portfolio comprises 27 terminals across 40 countries, and is looking to expand globally.
(Writing by Brinda Darasha; editing by Seban Scaria)